UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D. C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE
13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the
month of June 2009
Commission
File Number: 000-49650
TORM
A/S
(Translation
of registrant's name into English)
Tuborg
Havnevej 18
DK-2900
Hellerup
Denmark
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form 20-F
[x] Form 40-F
[ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): [ ].
Note: Regulation S-T Rule
101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely
to provide an attached annual report to security holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): [ ].
Note: Regulation S-T Rule
101(b)(7) only permits the submission in paper of a Form 6-K if submitted to
furnish a report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in which the
registrant is incorporated, domiciled or legally organized (the registrant's
"home country"), or under the rules of the home country exchange on which the
registrant's securities are traded, as long as the report or other document is
not a press release, is not required to be and has not been distributed to the
registrant's security holders, and, if discussing a material event, has already
been the subject of a Form 6-K submission or other Commission filing on
EDGAR.
INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
Attached as Exhibit 1 is a copy
of Announcement No. 10 - 2009 issued by TORM A/S to The Copenhagen Stock
Exchange on June 17, 2009.
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized.
TORM
A/S
(registrant)
Dated:
June 17, 2009
By: /s/ Mikael
Skov
Name: Mikael
Skov
Title: Chief
Executive Officer
Exhibit
1
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ANNOUNCEMENT
NO. 10 – 2009
17
June 2009
TORM
re-organizes global set-up as part of ongoing efficiency
programme
In
the 2008 annual report, TORM announced the launch of a comprehensive
efficiency programme - Greater Efficiency Power - in order to take full
advantage of the global reach the Company has gained from the recent
years’ acquisitions and strong growth. When fully implemented in 2010, the
programme is expected to contribute with annual cost savings of USD 40-60
million.
As
part of the programme, TORM has re-organized its global set-up of crew and
fleet management to better support commercial requirements and to align
with TORM’s overall strategy. Likewise, support functions will be further
centralized to achieve synergies and better utilize the global IT
platform. Further standardization of maintenance as well as crew
optimization will not only secure reductions in operating expenses, but
also improve efficiency and enhance the quality of TORM’s service to the
benefit of the customers.
As
a result of the rollout of Greater Efficiency Power, 35 land-based
employees throughout the organization will be made redundant over the
coming months, corresponding to approximately 10 percent of all onshore
staff.
“A
plan like Greater Efficiency Power is a logical and necessary consequence
of the strong growth TORM has experienced in the past five years and has
been planned prior to the economic slowdown. This is also meant to create
the foundation for TORM’s future growth,” CEO Mikael Skov
says.
The
net effect of the above will have no influence on TORM’s 2009 pre-tax
profit forecast of USD 100-140 million incl. sale of vessels as stated on
9 June 2009 (announcement no. 9/2009).
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Contact:
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Mikael
Skov, CEO, tel.: +45 39 17 92 00
Roland
M. Andersen, CFO, tel.: +45 39 17 92
00
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About
TORM
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TORM
is one of the world's leading carriers of refined oil products as well as
being a significant participant in the dry bulk market. The Company
operates a combined fleet of more than 130 modern vessels, principally
through a pooling cooperation with other respected shipping companies who
share TORM's commitment to safety, environmental responsibility and
customer service.
TORM
was founded in 1889. The Company conducts business worldwide and is
headquartered in Copenhagen, Denmark. TORM’s shares are listed on the
Copenhagen Stock Exchange (ticker TORM) as well as on the NASDAQ (ticker
TRMD). For further information, please visit www.torm.com.
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ANNOUNCEMENT
NO. 10 – 2009
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17
JUNE 2009
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TORM
A/S – GREATER EFFICIENCY POWER
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Safe
Harbor
Forward
Looking
Statements
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Matters
discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect our current views with
respect to future events and financial performance and may include
statements concerning plans, objectives, goals, strategies, future events
or performance, and underlying assumptions and other statements, which are
other than statements of historical facts. The forward-looking statements
in this release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without limitation,
Management’s examination of historical operating trends, data contained in
our records and other data available from third parties. Although TORM
believes that these assumptions were reasonable when made,
because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to
predict and are beyond our control, TORM cannot assure you that
it will achieve or accomplish these expectations, beliefs or
projections.
Important
factors that, in our view, could cause actual results to differ materially
from those discussed in the forward looking statements include the
strength of world economies and currencies, changes in charter hire rates
and vessel values, changes in demand for “tonne miles” of oil carried by
oil tankers, the effect of changes in OPEC’s petroleum production levels
and worldwide oil consumption and storage, changes in demand that may
affect attitudes of time charterers to scheduled and unscheduled
dry-docking, changes in TORM’s operating expenses, including bunker
prices, dry-docking and insurance costs, changes in governmental rules and
regulations including requirements for double hull tankers or actions
taken by regulatory authorities, potential liability from pending or
future litigation, domestic and international political conditions,
potential disruption of shipping routes due to accidents and political
events or acts by terrorists. Risks and uncertainties are further
described in reports filed by TORM with the US Securities and Exchange
Commission, including the TORM Annual Report on Form 20-F and its reports
on Form 6-K.
Forward
looking statements are based on management’s current evaluation, and TORM
is only under obligation to update and change the listed expectations to
the extent required by law.
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ANNOUNCEMENT
NO. 10 – 2009
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17
JUNE 2009
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TORM
A/S – GREATER EFFICIENCY POWER
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